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Qiwi reveals its developer mines 500,000 bitcoins

The CEO of Qiwi, Sergey Solonin revealed that one of the developers used the companyâ€™s hardware to mine bitcoins. 500,000 bitcoins valued at $5 million in the course of few months were mined in 2011. It is observed to be more than the profits generated from the machines. The company denied disclosing the identity of the developer to the media.